Stavian Industrial Metal, Acme Group sign binding terms for green HBI, DRI offtake

The BOD of Stavian Industrial Metal and Acme Group signed the binding terms for the long-term Green Steel Offtake Agreement on Oct. 6, 2025. Photo courtesy of Stavian Industrial Metal

Acme Group is recognized for its leadership in sustainable and renewable energy, particularly in large-scale solar power, green hydrogen, green ammonia, low-carbon materials, and low-emission transportation projects.

Under the agreement, the two parties will move forward with an exclusive offtake contract for the Southeast Asian market, under which Stavian Industrial Metal will off-take 800,000 tons per year of green steel materials (HBI & DRI) for 10 years.

The steel products will be produced at Acme's Green HBI/GRI facility with a capacity of 1.2 million tons per year (phase 1). The plant will operate entirely on renewable energy and green hydrogen, with CO2 emissions among the lowest levels globally.

Stavian Industrial Metal conducted a site visit to Acme Group's Green Steel and Green Hydrogen project. Photo courtesy of Stavian Industrial Metal

With a robust financial foundation, exceptional operational capabilities, and an ecosystem of over 20,000 partners across more than 100 countries, along with 10 factories, 40 logistics centers, and 30 global offices inherited from Stavian Group, Stavian Industrial Metal continues to strengthen its position as a comprehensive solution provider in the industrial metals supply chain. It is also leading the way in green metal production and sustainable development trends in Vietnam and the region.

Speaking at the signing ceremony, David Nguyen Minh Tu, Chairman of Stavian Industrial Metal, emphasized that the partnership goes beyond a commercial agreement. It reflects both parties' commitment to achieving net zero goals by 2050 for Vietnam and by 2070 for India.

"With a solid foundation, strong financial capacity, and an ecosystem of over 20,000 customers in more than 100 countries, Stavian Industrial Metal is confident in its ability to partner with Acme to bring world-class green steel products to key markets, promoting sustainability in the global metal industry," he added.

According to Manoj Kumar Upadhyay, Chairman of Acme Group, the green HBI and DRI project underscores Acme's commitment as one of the leaders of clean technology solutions in India. They take pride in spearheading innovation within the clean energy sector, including green hydrogen and derivatives. The long-term partnership with Stavian Industrial Metal is to deliver sustainable solutions to hard-to-abate sectors such as steel manufacturing.

"Our greenfield facility will produce some of the lowest carbon emission green HBI and DRI products. This collaboration marks a significant milestone in Acme's integration of green steel into our portfolio as part of our strategic business expansion," Manoj said.

Representatives of Stavian Industrial Metal and Acme Group at the signing ceremony. Photo courtesy of Stavian Industrial Metal

The global green steel market is experiencing strong growth, driven by climate commitments, regulatory requirements, and the accelerating decarbonization of industrial supply chains. As governments and corporations intensify their carbon reduction goals, the demand for low-carbon steel continues to rise, particularly in sectors like automotive, aerospace, renewable energy, petrochemicals, shipbuilding, construction, supporting industries, and consumer goods manufacturing.

Leading economies, including Europe, the United States, and China, are investing heavily in advanced green steel technologies, such as hydrogen-based direct reduction and enhanced steel scrap recycling, to modernize production processes and significantly reduce carbon emissions.

Long-term commitments from global industrial conglomerates to secure sustainable green steel supply are driving a shift toward sustainability and indicating a period of steady, enduring growth for the green steel industry.

"Amid this global transition, the partnership with Acme not only creates long-term commercial opportunities in the green steel sector but also contributes to the global energy transition, reaffirming the role of Vietnamese enterprises in the international green metals supply chain," stated a representative of Stavian Industrial Metal.